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2021 Business Personal Property Tax Information

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2021 Business Personal Property Tax Information Deadlines Pay Online 2021 If a payment date falls on a Saturday, Business Personal Sunday, or holiday, the due date is the following business day. Property Business Personal Property: Tax Information • Report by May 1. • Pay by October 5.* Business, Professional and Occupational License (BPOL): Scan the QR Code above to pay • File and pay by March 1. (or within 75 online by e-check or credit/debit card, days for new businesses). or visit: https://www.fairfaxcounty.gov/taxes/pay. *Vehicles new to the county must be • A third-party processing fee is registered within 60 days. For vehicles assessed for credit/debit card bought or moved to the county on or payments. after July 1, payment is due February 15, • There is no processing fee for the following year. A local motor vehicle e-check payments. license plate tax and penalty of $350 is Department of Tax Administration imposed on owners of motor vehicles in Personal Property Division Fairfax County who do not properly display Virginia license plates. www.fairfaxcounty.gov/taxes Pay By Mail or In-Person [email protected] To anonymously report vehicles that may be evading county tax laws, visit: Mail to, or visit: 12000 Government Center Parkway www.fairfaxcounty.gov/dta/taxevaders. Suite 223 12000 Government Center Parkway Fairfax, VA 22035 Suite 223 703-222-8234, option 4 (TTY 711) Fairfax, VA 22035 Fax: 703-324-3500 • Make checks payable to “County of Fairfax”. • Do NOT send cash. Hours • Payment must be postmarked on or Customer Service Call Center: Customer Service Call Center: before the due date to be Monday to Friday A Fairfax County, Va., publication considered on time. 8:00 a.m. to 4:30 p.m. To request this information in an alternate format, Walk-In: Mondays, Wednesdays & Fridays contact the Department of Tax Administration at For more information about payment 9:00 a.m. to 3:00 p.m. 703-222-8234, TTY 711. options, visit: https://www.fairfaxcounty.gov/taxes/pay/ Telephone or virtual appointments now payment-options. available at: www.fairfaxcounty.gov/taxes/appointments April 2021 ➢ Leasing firms (lessors) must file a return in their General Information Completing Form 2TA own name. To ensure proper assessment use Schedule 1 for furniture and fixtures and ➢ The purpose of Form 2TA is to report the total ➢ Complete Form 2TA in its entirety. If Schedule 2 for computer equipment. purchase cost of all owned, leased, or rented information is preprinted, review for accuracy. tangible business property located in Fairfax Record changes in “Disposed” or “Acquired” ➢ A complete itemized list of all tangible property County on Jan. 1. Section 58.1-3109(6) of the columns only. Do not alter the preprinted owned by your company must be furnished. The Code of Virginia requires taxpayers, or their cost figures (cost of property as reported data should include description of the asset, agents, to furnish information relating to tangible in 2020) located in column 1 of Schedule 1 original purchase cost, and year acquired. personal property and requires such persons to orSchedule 2. Only original and pre- Leasing firms (lessors) should also include the furnish access to their books of accounts or other printed filing forms will be accepted. name and address of the lessee. This papers and records for the purpose of verifying information should be provided in a printed or information necessary to make a complete and ➢ If there are changes to the preprinted cost electronic media form. Incomplete filings will be accurate assessment. figures due to disposals or transfers in/out, returned. Penalties may apply. you must provide detailed documentation ➢ All owned assets must be reported at the including asset description, original cost, original capitalized cost or the cost that purchase year, and date of change supporting Important Information would have been capitalized if the expense these changes. Without documentation, prior year additions may be subject to omitted • Complete Schedules 1, 2 & 3 and attach a deduction, in lieu of depreciation, was elected detailed asset listing. If this information is under §179 of the Internal Revenue Code. assessments. Disposals not validated will not be removed from the tax account. not provided as prescribed, the form will be considered incomplete and may be ➢ Capitalized leases are treated as owned property ➢ Schedule 1 – Report the total purchase cost returned. If applicable, late filing penalties and must be included in either Schedule 1 or 2, will be applied. depending on the type of property. All leased or of all tangible personal property (except rented property must be reported in Schedule 3. computer and motor vehicles) located in Fairfax County on Jan. 1 of each year, • As required in the Code of Virginia § 58.1- including but not limited to furniture, 3518, business tangible personal property ➢ Purchase cost is the full capitalized or expensed equipment, tools, and signs used in any tax returns shall include information as to original cost, including sales tax, freight, setup, business or profession; artwork, machines the total of original cost by year of and installation of all tangible personal property. and tools, trunk and feeder cables, and studio purchase. The cost should be the original equipment of cable television businesses. capitalized cost or the cost that would have ➢ Automobiles, trucks, vans, motorcycles, RVs, Telephones, cell phones, and other been capitalized if the expense deduction, campers, boats, boat motors, airplanes, and telecommunications equipment, medical in lieu of depreciation, was elected under mobile homes must be reported separately on equipment, audio/visual equipment, and § 179 of the Internal Revenue Code. a Personal Property Vehicle Registration form. security systems are reported on Schedule 1. Do not report them on this form. • A late filing penalty will be assessed for each schedule if not filed or postmarked ➢ Schedule 2 – Report the total purchase price ➢ Property reported on this form is non- by May 1, 2021 (10 percent of the of computer equipment (mainframe, PCs and proratable and is taxed for the entire year even assessedtax). peripherals, i.e., desktop printers, monitors, if sold or moved out of the county after Jan. 1. modems, etc.) located in Fairfax County on County Ordinance § 4-17. 1-5 (E). Proration. • Sign, return, and provide a contact phone Jan. 1 of each year. Only report operating The personal property taxes on all other tangible number and email address. Unsigned software required to operate systems. Do not personal property subject to taxation by this returns will be considered incomplete report application software, such as Excel, Article shall not be prorated. (57-93-4; 37-96-4.) and may be returned. If applicable, late Word, accounting, inventory or sales tracking filing penalties may apply. software. ➢ To avoid the late filing penalty of 10 percent, a completed filing must be postmarked or • Input NAICS Code as it appears onthe ➢ Schedule 3 – Report all leased equipment returned no later than May 1, 2021, to the Federal Tax Return for your business. and provide copies of lease agreements. Department of Tax Administration, 12000 Code of Virginia § 58.1- 3518 requires lessees Government Center Pkwy., Suite 223, Fairfax, • Businesses located in the Town of Clifton, to report all tangible personal property leased VA 22035, or fax to 703-324-3500. Herndon, or Vienna are required to file their from others. Capitalized leases are to be Business Tangible Personal Property with reported on Schedule 1 or Schedule 2, ➢ Do not include payment with your return. Fairfax County. depending on the type of property. You will be billed later..
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